Dollar slips against peers for the second day

Daily Forex Market Preview, 30/06/2016
The US dollar gave up some of its gains for the second day yesterday as the markets continue to recover the Brexit led declines. The economic calendar today is busy with the UK’s final GDP revision, but it is unlikely to evoke any strong response from...
Dollar slips against peers for the second day
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Usman
Forex News

EUR & GBP stage a recovery. Follow through required

Daily Forex Market Preview, 29/06/2016
The euro and the British pound posted a modest recovery yesterday while the yen weakened against the dollar following two days of intense selling. Without a follow through here, the recovery is likely to be short lived. For the EURUSD, a close above 1.11 is...
EUR & GBP stage a recovery. Follow through required
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Usman
Forex News

US GDP data on tap today

Daily Forex Market Preview, 28/06/2016
The US dollar was showing signs of weakness as the markets start to price in a Fed rate cut by September. This change in view saw the euro posting a modest recovery having established support at 1.10. Gold prices are also retreating in today’s early...
US GDP data on tap today
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Usman
Forex News

Follow through from Friday likely

Daily Forex Market Preview, 27/06/2016
The markets gapped lower this morning with the sterling in the eye of the storm. With the UK plunging into political uncertainty with many questions and few answers, the markets are bearing the brunt. Gold prices remain poised to the upside amid this...
Follow through from Friday likely
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Usman
Forex News

Generalized Forex Forecast for 27 June – 1 July 2016

First, a review of last week’s forecast:
– all last week’s forecasts were made with the proviso that they would remain in force only before the beginning of the UK referendum. And given that very proviso, the prediction for EUR/USD may be considered as panned out. The majority of both experts and...
Generalized Forex Forecast for 27 June – 1 July 2016
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Usman
Forex News

New Platform Nord Machine

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New Platform Nord Machine
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Usman
Forex News

UK votes to leave the EU

Daily Forex Market Preview, 24/06/2016
Markets plunge as Britons voted to leave the EU. Market volatility is likely to pick up in the aftermath of the EU referendum. Central bank speeches and further news flows are likely to keep the markets on the edge today. The sterling and the euro have been...
UK votes to leave the EU
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Usman
Forex News

Crunch time for EUR and GBP

Daily Forex Market Preview, 23/06/2016
UK polls open today at 0700 UK time and could see an initial knee-jerk reaction on the GBP and EUR. That said, the GBP remains at risk of a significant pullback, while the euro remains range bound within 1.120 and 1.130. Not much can be expected today, but...
Crunch time for EUR and GBP
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Usman
Forex News

Watch the bullish pennant pattern in Gold

Daily Forex Market Preview, 22/06/2016
Gold prices might be looking weaker on the daily and weekly time frame, but the 4-hour chart shows a bullish pennant pattern which could signal further upside in gold. With the UK referendum vote due in less than a day, gold prices could remain in a range...
Watch the bullish pennant pattern in Gold
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Usman
Forex News

GBPUSD likely to pullback from yesterday’s gains

Daily Forex Market Preview, 21/06/2016
GBPUSD remains trading flat, but price action indicates a near-term correction, following the rally yesterday to test the resistance at 1.4668 – 1.46470. The markets look to another day of quiet trading except Janet Yellen’s speech that could...
GBPUSD likely to pullback from yesterday’s gains
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Usman
Forex News

Generalized Forex Forecast for 20 – 24 June 2016

First, a review of last week’s forecast:
– making a forecast for EUR/USD, both experts and technical analysis unanimously voted for a sideways trend with a bearish sentiment, which was 100% fulfilled – discrepancy between the levels of the beginning and the end of the week made just around 20 poi...
Generalized Forex Forecast for 20 – 24 June 2016
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Usman
Forex News

Gold fails to hold gains above 1300

Daily Forex Market Preview, 17/06/2016
In a volatile trading session, gold prices broke above 1300 yesterday to rise to 1315 but pulled back sharply. A bearish follow through from here could see near-term declines. The GBPUSD and the EURUSD were volatile as well with both the euro and the...
Gold fails to hold gains above 1300
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Usman
Forex News

Gold back at 1300 as central banks stand pat on polic

y
Daily Forex Market Preview, 16/06/2016
Gold prices are back at the $1300 handle as the FOMC, and the BoJ stood on the sidelines. However, the upside in gold is looking weak, unless price breaks clear of the $1300 – $1303 handle. The USDJPY is currently posting fresh yearly lows after the...
Gold back at 1300 as central banks stand pat on polic
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Usman
Forex News

USDJPY looks to FOMC and BoJ meetings

Daily Forex Market Preview, 15/06/2016
The Federal Reserve will be releasing its monetary policy statement, economic projections and holding a press conference later today. The markets remain jittery ahead of the meeting, but the attention is on USDJPY, which will later see the BoJ meeting early...
USDJPY looks to FOMC and BoJ meetings
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Usman
Forex News

Sideways market emerging across the board

Daily Forex Market Preview, 14/06/2016
Most of the currencies are moving into a sideways pattern being established. EURUSD has bounced off above 1.1217 support and remains caught within 1.138 resistance, while gold prices continued to extend gains but remain within 1290 and 1273 levels. GBPUSD...
Sideways market emerging across the board
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Usman
Forex News

Gold prices likely to move sideways. EURUSD seeks support at 1.1217

Daily Forex Market Preview, 13/06/2016
The markets opened today on a mixed note with GBPUSD extending declines including the euro, on a stronger US dollar. However, the yen remains in favor with USDJPY seen testing the 106 levels yet again. With no major scheduled releases due today, expect a...
Gold prices likely to move sideways. EURUSD seeks support at 1.1217
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Usman
Forex News

Generalized Forex Forecast for 13 – 17 June 2016

First, a review of last week’s forecast:
– making forecast for EUR/USD for the upcoming month, the majority of experts (around 80%) insisted that the pair would go down at least to the level of 1.1100. Eventually, following the speech of the president of the ECB Mario Draghi, the pair did start g...
Generalized Forex Forecast for 13 – 17 June 2016
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Usman
Forex News

XAUUSD carving out a head and shoulders pattern

Gold, despite the recent bullish momentum, is carving out a bearish head and shoulders pattern with the neckline resistance at 1208 – 1210. A break below this level could extend declines towards 1100. On the lower time frame, while EURUSD broke out from the rising wedge pattern, gold...
XAUUSD carving out a head and shoulders pattern
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Usman
Forex News

Rising wedge on EURUSD (H4) signals a breakout to the downside

Daily Forex Market Preview, 09/06/2016
Failure to make a convincing close following the inside bar, EURUSD’s rising wedge pattern signals consolidation but opens the risk for a decline to 1.121 support that was broken during last Friday’s NFP report. Gold prices are now at the...
Rising wedge on EURUSD (H4) signals a breakout to the downside
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Usman
Forex News

EURUSD goes nowhere but mind the inside bar

The dollar crosses were fairly flat yesterday with the sterling being the exception. While EURUSD formed a doji the day before, prices remained range bound in yesterday’s trading forming an inside bar which portends a breakout in the near term. Gold prices also stayed flat yesterday after...
EURUSD goes nowhere but mind the inside bar
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Usman
Forex News

Doji on EURUSD, Gold signals a correction

Daily Forex Market Preview, 07/06/2016
The US dollar was muted to Yellen’s speech in Philadelphia yesterday, but the doji candlesticks on EURUSD and Gold signal a near term correction in prices. In EURUSD, watch for a pullback to 1.120 region, while gold prices could fall back to 1230 – 1225 sup...
Doji on EURUSD, Gold signals a correction
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Usman
Forex News

US Dollar Could Make A Pullback In The Near-Term

Daily Forex Market Preview, 06/06/2016
The dollar fell sharply on Friday following the weak jobs report for May, but as the markets opened today, there is evidence that the dollar could be seen retracing some of its gains, leading to a pullback in the EURUSD, USDJPY and gold prices in the near...
US Dollar Could Make A Pullback In The Near-Term
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Usman
Forex News

Generalized Forex Forecast for 6 – 10 June 2016

First, a review of last week’s forecast:
– the forecast for EUR/USD reckoned that the pair might first rise to the level of 1.1170, and then – even up to 1.1240, following which it would reverse and start going south. This scenario also considered the fact that according to many authoritative sou...
Generalized Forex Forecast for 6 – 10 June 2016
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Usman
Forex News